Napster’s revenue goes up and its loss goes down in the second quarter
Revenue at Napster Inc. for its fiscal second quarter rose 9% to $25.5 million from $23.4 million a year earlier, the company reports. Net loss was $9 million, down from $13 million a year earlier.
"We`re pleased to report that Napster.com`s unique visitation grew 42% in the second quarter, which provides us with the opportunity to continue to grow our new ad supported free music service and simultaneously deliver positive paid subscriber growth throughout the balance of our fiscal year," said Chris Gorog, Napster`s chairman and chief executive officer. "We believe the dramatic growth projected for music-enabled cell phones will provide a very significant growth driver for Napster going forward.”
The company expects $27 million in Q3 revenue. Last year’s Q3 revenue totaled $23.5 million.
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